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APRA announces executive appointment | Insurance Business

The Australian Prudential Regulation Authority (APRA) has welcomed to its team a new executive appointment with more than two decades of extensive financial markets experience, both in Australia and internationally.

The prudential regulator has appointed Therese McCarthy-Hockey to the newly created role of executive general manager, strategy/chief risk officer, effective Feb. 1.

McCarthy-Hockey will be in charge of APRA's supervision framework and enterprise strategy and risk functions, which includes the design and maintenance of the processes and techniques used by APRA's supervisors, and the framework used by the prudential regulator to assess its own risks. McCarthy-Hockey will also oversee APRA's strategic and business planning, accountability, and performance reporting processes.

“Therese brings to APRA impressive skills and experience relevant to this newly created role, as well as a very strong commitment to APRA's mission to protect the financial well-being of the Australian community,” APRA Chairman Wayne Byres said. “In particular, Therese's understanding of the financial system, and the inner workings of complex financial institutions, will help ensure APRA's strategies and supervisory practices remain up-to-date and fit for purpose.”

McCarthy-Hockey was most recently deputy group treasurer and chief operating officer for treasury at Deutsche Bank London. She also worked at Deutsche Bank AG Sydney, Macquarie Bank, and Bankers Trust.